Home Buyers Plan

"There is no place like home"



The Home Buyer’s Plan (HBP) enables an individual who has an Registered Retirement Savings Plan (RRSP) to withdraw up to $25,000 in a calendar year ($50,000 for a couple) to assist in down payment required on the purchase of a qualifying home.

To qualify for this federal government program, the RRSP funds must have been deposited at least 90 days prior to the withdrawal of the funds and there must be a signed agreement to buy or build the qualifying home.

The withdrawal of funds from the RRSP is not taxable if it is repaid within a 15-year period, with at least 1/15th of the amount taken being paid on an annual basis.

Take a moment to look at the following article and link for full details on the Home Buyer’s Plan to determine if it is a good option for you.


The RRSP and home ownership

The home is the most significant asset for many Canadian households. It can bolster personal net worth, and when paid off, reduce costs of living in the future. Read more.


CRA Link: What is a Home Buyer’s Plan?

Home Buyer's Plan link 

(click "Investor - I am a current or prospective investor" to view the applicable information)